Make Kitco Your Homepage

Ford To Build All-Electric Pick-Up Truck, Invests $500M In EV Start-Up

Kitco News

Ford announced on Wednesday that it will invest US$500 million in Rivian, an electric vehicle start-up.

The two companies will build an electric vehicle together using Rivian’s skateboard platform, an electric drive system that delivers power and torque through four independent motors.

Ford and Rivian have their own EV programs. As part of Ford's previously announced $11 billion EV investment, two electric vehicles will be introduced in 2020: a Mustang-inspired crossover and a zero-emissions version of the F-150 pickup. Rivian has plans to launch two products on its own: a five-passenger pickup and a seven-passenger SUV. Rivian says both battery-powered vehicles will have a range of 400-plus miles and plans to have them on the road next year.

Rivian will remains an independent company after Ford's investment.

Ford trucks are popular with miners. Barrick Gold ordered 35 F-150s three years ago to replenish its fleet. Barrick also allowed Ford to test aluminum-alloy trucks at its mine sites to assess general reliability before a wider public roll-out.

Written with material from Ford's news release. Creative Commons Image of Ford logo courtesy of Richard Elzey
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

Precious Metal Charts

Follow Kitco News